Car Loan EMI Calculator – Instant Calculation for 2025 Car Buyers
Buying a car in 2025? Whether it’s your first hatchback or a new SUV, knowing your EMI helps you plan better. Here’s how to calculate your car loan EMI instantly — with tools, formulas, and real-world examples. What Is a Car Loan EMI? A Car Loan EMI (Equated Monthly Instalment) is the fixed monthly amount you pay to repay your auto loan. It includes: Principal: The car’s price minus your down payment Interest: The cost charged by the lender for the loan Most banks in India offer car loans with tenures between 1 and 7 years. The interest rate usually ranges from 8.5% to 11.5% per annum. Car Loan EMI Formula Explained Simply Here’s the formula lenders use to calculate your EMI: EMI = [P × R × (1+R) N ] / [(1+R) N – 1] P = Loan amount R = Monthly interest rate (Annual rate ÷ 12 ÷ 100) N = Loan tenure in months Example: Manual EMI Calculation Suppose you buy a car worth ₹10 lakh with ₹2 lakh down payment. Loan = ₹8 lakh at 9% for 5 years (60 m...
